Topline
Eight-time Olympic gold medal-winning sprinter Usain Bolt is missing more than $12.7 million from an account with a Jamaican private investment firm, his attorneys confirmed on Wednesday, threatening legal action if the money isn’t returned in 10 days.
Sprinter Usain Bolt’s attorneys said an account he has in Jamaica suddenly lost more than $12 … [+]
Key Facts
Bolt’s account with the Kingston, Jamaica, firm Stocks & Securities Limited had held $12.8 million, but has dwindled to $12,000, his attorneys wrote in a letter this week.
If the money was taken, his attorneys allege it could have been the work of a “serious act of fraud, larceny or a combination of both.”
Jamaica’s Financial Services Commission is investigating the private equity firm, the Associated Press reported, with finance minister Nigel Clark calling the case alarming.
Stocks & Securities Limited, as well as Bolt’s attorney, Linton P. Gordon did not immediately respond to a Forbes inquiry for further details, although Gordon told Reuters he would be “going to court with the matter,” calling it a “grave disappointment.”
Forbes Valuation Number
In 2018, two years after Bolt won his last three Olympic gold medals at the Rio De Janeiro Olympic Games, Bolt made Forbes list of highest paid athletes at number 45, with $1 million in salary and other winnings and $30 million in endorsements.
Key Background
Bolt, 36, was a breakout sensation at the 2008 Beijing Olympic games, taking first in both the 100-meter and 200-meter sprints. He also led his team to a gold medal in the 100-meter relay, although the medal was later vacated after one of his teammates tested positive for a banned substance. Bolt won another three gold medals at the 2012 London Summer Games and three more in 2016. In addition to the Olympics, Bolt also placed first in 11 world championship track events between 2009 and 2015.
Further Reading
Usain Bolt seeks missing $12.7 mln from Jamaica investment firm (Reuters)
Attorneys: Jamaica’s Usain Bolt missing $12.7M from account (Associated Press)
Source: https://www.forbes.com/sites/brianbushard/2023/01/18/sprinter-usain-bolt-missing-127-million-from-jamaican-account/